Sure, why not? I know an old lady named Zora. XD

There's nothing wrong with naming a kid after a fictional character. They're just as likely to live in the shadow of a real person they were named after; Muhammad, Jesus, and Alexander are a few good examples, I doubt most people can live up to those names.

I wouldn't give my kid a Japanese name though, if only because I'm not Japanese, and also because I don't live in a Japanese community. That's just my personal taste however. Something like Yuna is fine, but Kasumi is so obviously Japanese, that if you aren't, it's going to turn heads. On the other hand, a name like Bakura has several origins and meanings, and could easily be given to any boy; it's unique enough to stand out, yet doesn't sound too much like any one foreign culture.

Besides, lots of people are already named after fictional characters. Friedrich and Arthur are (largely) fictional characters that many people are named after. Naming your kid Sephiroth however, is absolutely retarded. It would be like naming your kid Mjølnir. I imagine many Orthodox Jews wouldn't appreciate it, especially considering the meaning of the word and it's significance in their beliefs.