Place the drained water chestnuts into a large plastic zip-top bag, then pour the soy sauce in. Roll the bag to coat all of them in the soy sauce, then let marinate for at least half an hour. (This is a good time to get the rest of the prep work done like slicing bacon and making the sauce etc)
In a small saucepan, combine ketchup, brown sugar and Worcestershire sauce; cook and stir over medium heat until sugar has dissolved completely and the mixture is hot and thick.
Cut the bacon strips into thirds.
Preheat your oven to 375°F.
After 30 minutes drain the water chestnuts.
Wrap a strip of bacon around each water chestnut and secure with a wooden toothpick.
Place in a large jelly roll pan. Bake until the bacon is crisp, about 25 minutes.
Remove the chestnuts to plate, then drain the bacon grease from the pan.
Dip each water chestnut into the ketchup mixture and place back on the pan.
Spoon all of the remaining sauce over the chestnuts. Return to the oven for 10 - 15 minutes, until the glaze is sticky and reduced down.
Remove each water chestnut to a platter and serve!
Notes
Some recipes don't soak the water chestnuts in soy, but that's how my mom made them and it is the BEST version!
These disappear so fast that if you are entertaining, I would double the batch and make a huge amount all at once.