In a shallow bowl, combine the soy sauce, sherry, ginger and garlic. Add the chicken livers and toss to coat. Let marinate refrigerated for 15 to 20 minutes.

Place the bacon flat on a work surface. Remove the livers from the marinade and pat dry. Place 1 chicken liver piece on each bacon half and top with a water chestnut slice. Roll up to enclose the livers and chestnuts in the bacon. Secure with a toothpick or long skewer.

Heat oil in a skillet over high heat. Pan-fry until bacon is golden brown and the livers are cooked through, about 3 minutes.

Remove and drain on paper towels. Place the rumaki on a serving platter. Serve immediately.