Prepartion: Soak an 8"x 2" piece of dashi kombu (dashi kelp) in cold water overnight or reconstitute powdered dashi in water according to the package directions to make 4 cups of kombu dashi. Put the dashi and salt into a saucepan and heat until steam rises from the surface. Cut the stem from the cap of the mushrooms. Julienne the stems into matchsticks. Slice the caps into 1/8" thick pieces.
Heat a large non-stick frying pan with 1 tablespoon of butter and 1 tablespoon of olive oil until hot. Add the shallots and julienned matsutake stems 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, then 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. Stop at about 3 1/2 cups for al dente risotto.
While the risotto is cooking, heat a second pan and add the remaining 1 tablespoon of olive oil. Fry the matsutake caps until they are browned and season lightly with salt and pepper. Transfer the mushroom to a plate, then add the remaining tablespoon of butter. Add the panko and toast the breadcrumbs in the butter, stirring constantly until they are golden brown. Transfer to a plate and set aside.
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 matsutake caps and toasted bread crumbs.