Heat a large non-stick frying pan with 1 tbsp of butter and 1 tbsp of olive oil until hot.
Add the shallots and shiitake until the butter is browned and the mushrooms take on a light brown color.
Add the rice and fry for a minute, stiring to coat each grain of rice.
Add the sake and stir until it has evaporated.
Add two ladles of dashi and stir constantly until most of the liquid has been absorbed. Continue adding dashi 1 ladle at a time, stirring constantly until the rice has reached a texture you're happy with.
When the risotto is done, add the cheese and remaining butter and stir until they are incorporated. Taste for salt and more if necessary.
Plate the risotto and top with the sauteed shiitake.