Myanmar’s political upheaval is prompting global companies from Japan to Thailand to dial back operations in the country, spurring concern about a widening business fallout.

From beer maker Kirin Holdings Co. to an early backer of gaming firm Razer Inc., companies and investors are weighing the impact of a military coup that has thrust the once-thriving nation into a state of emergency. The turmoil is prompting multinationals like Thailand’s biggest industrial developer to delay investment plans, a harbinger of things to come should the chaos deepen.

Western nations are applying pressure on the newly installed military government of the Southeast Asian country, once regarded as greenfield territory for everything from oil and gas to leisure resorts. With the U.S. reiterating plans to renew sanctions, it could cause a rippling effect among businesses, threatening $5.5 billion in foreign investment in a country that just a few years ago was on the path to democracy.