PetaPixel reports that in 1988 at the MacWorld tradeshow Thomas and John Knoll approached Nikon and offered them the rights to an image editing program they had developed. This program was called Photoshop. Apparently, despite support in Nikon US and Europe, the Japanese leadership took a pass, allowing Adobe to get the program in September.
Apparently, Nikon weren’t alone in not recognizing its potential. Kodak and several other industry giants were also approached and decide against it.