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I know Adwords doesnt like multiple accounts, fearing that many accounts bidding on the same keywords.
If that was the reason, I wonder if I could run multiple accounts, one account per targeting country.
Acount 1: Display only in UK
Acount 2: Display only in France
Acount 3: Display only in US
Acount 4: Display only in Japan
Acount 5: Display only in China
With this setting, no two more accounts ads display within the same country.
I wonder if this is ok with Adwords.
If not, then I'd write to Google and explain the situation and solicit their input.
Today I received a reply (below) from Adwords regarding 1 adwords account per country. From the reply, I believe it is a YES to have 1 adwords account per country. Let me know if you read it differently.
"Thank you for your email regarding setting up separate accounts to
different geographical regions. Please know that if each account
different geographical region, you may certainly create a unique
for each country."