A small Canadian corporation, Lexus Foods Inc., applied to register the name Lexus as a trademark for its range of canned fruit products. The application was opposed by the Japanese manufacturer of the well-known Lexus model of automobiles. It argued that the application by the Canadian corporation should not be granted because of the risk of confusion with its existing marks. Further, it claimed that the applicants were simply trying to cash in on its famous name.

Question: Is the objection a valid one? Why or why not?