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Use open captions as the caption stream, that should do the trick 
but make sure you have a caption to mark the very beginning/end (can be empty) otherwise you might find your captions out of sync
Or, if you use any other caption stream, you can still export a sidecar track that works (even though it appears as black squares on the screen when editing, the export works - I've tried it as an SRT and it exported successfully, haven't tried the other options)
Received Japanese subtitles in SRT format for my new film from company based in Japan (My film is in Bangla, with English subtitles). They recommended Heisei Mincho, ten Mincho, or DNP Shuei Mincho Pr6N from the Adobe Creative Cloud font library. I was able to find the first two and installed those. They also sent a second list of FA Maru Gothic TV, MS Gothic, and MS P Gothic, out of which I was able to find Heisei Maru Gothic Std and installed that. When I SELECT ALL on the SRT and change it to one of these fonts, it does not work.
An additional issue has come up. The Japanese team want some of the text to be in Italics (translation rule that applies when a signboard text or song comes up). But when I insert the ITALIC code in an SRT editor [<i> and </i> in some software and {\i1} and {\i} in others] it doesn't show italicized once imported into Premiere.
The Japanese fonts the company recommended don't have a built in ITALIC version (I am searching online for an Italic version, but no luck yet– on Adobe Fonts, Ten Mincho claims to have an Italic version but it is actually the same as the regular).
In the absence of a built in italic version, Premiere disables the ITALIC button on the Open Captions edit menu. 
Unlike MS Word which force-slants any font to create a "faux-italic" look (even if Italic doesn't exist), Premiere doesn't seem to do that.
On a community bulletin board for Illustrator, I saw the advice given to use the "skew" option, but I don't see such an option in Premiere's Open Caption editor.
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