Pour soy sauce into large bowl and add brown sugar. Mix until blended.

Wrap bacon around water chestnut. Secure bacon with toothpick, making sure toothpick goes completely thru chestnut.

Place wrapped chestnuts into container and pour soy sauce mixture on top. Secure lid and refrigerate overnite. Flip container periodically to ensure all chestnuts are coated with soy sauce mixture.

When ready, preheat oven to 350°F.

Transfer bacon wraps to baking pan. Place in heated oven and bake until bacon is done. About 20 minutes. Check while baking as not to over cook bacon.

Remove wraps and place on serving plate.