I (painfully) finished all of P4 Arena’s Story Mode a few weeks (a month?) ago and this is part of somebody else’s story. You poor Noot, I don’t think you might want to see Kanji’s Shadow. He’s instantly lose his remaining Manliness if you see it… *snort*
But like my headcanon on my 25th Dumb 4koma [x], Shadow Kanji sees Naoto as a boy and wants her to be his boyfriend.