Most recipes only use the shiitake mushroom cap and say to discard the tough stem. But instead of just throwing them away, try using those stems to flavor your soups and stocks!
The stems of shiitake mushrooms are too fibrous to eat, but they still pack a lot of flavor. Just a few stems can infuse a broth with rich flavors and earthy aromas. The stems are especially good in vegetable and broth-based soups (as opposed to thick stews).
Even cooked this way, the stems still aren't good to eat so be sure to discard them (for real, this time!) before serving. If you won't be straining the broth, wrap the mushrooms stems in cheesecloth like a bouquet garni so you can easily pick them out.
Mushroom stems can also be frozen indefinitely. We keep a container of them in our freezer, adding stems when we use the tops and taking some out when we make soup.
Give it a try!
Related: Survey: Do You Wash Mushrooms Before Cooking Them?
(Image: Flickr member kthread licensed under Creative Commons)
Red-and-Pink-Stripe...

Ahh I missed out on this tip by just two days! Made a yummy shiitake mushroom risotto on Wed. night and thought it was a shame to toss those stems! Will be sure to freeze 'em next time. Also, on a risotto note, I made the switch to Carnaroli rice from Arborio and I've got to say I'm hooked. The difference, while subtle, made for a richer, creamier dish. Mmmm, risotto!
My mom, ever the spend-thrift, always had a container of shiitake stems in the freezer. I usually reconsistute dried shiitakes and find that the attached stem-stumps are usually tender enough for consumption.
wait, too fibrous to eat? i always put them in my soups and have noticed no ill effects -- in fact, i think they're quite delicious!
...although i do cook them for substantially longer than the caps.