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The only format that the Kindle supports with embedded fonts is TOPAZ, which is only available via Amazon (no 3rd party tools available). It is a terrible format in many ways, and in particular the embedded fonts are not anti-aliased and so are often very hard to read.
The ePub format (Sony PRS-505/700) supports embedded fonts (TOPAZ is Amazon's attempt at replacing ePub), and ePub will soon be available on many more EInk devices (but not on the Kindles).
The problem for MOBI (AZW) on the Kindle is the lack of support in its only font for most non-European languages. You can confirm this is a font issue (rather than a MOBI issue) by viewing your MOBI ebooks using Windows MobiPocket Reader. If this works (perhaps after selecting the right font), then they will probably also work on any MOBI device that supports user-installed fonts once you select an appropriate font. Your best bet is the Cybook Gen3.
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