A molding is formed by laminating an aggregate of SiC and a paste containing Si and C powders on an epitaxial layer of SiC formed on a support substrate of SiC to form an intermediate sintered body in which polycrystalline SiC is produced from the Si and C powders by reaction sintering, free Si is carbonized to SiC to form a sintered body layer, and the support substrate is removed from the epitaxial layer to form a semiconductor substrate in which the epitaxial layer and the sintered body layer are laminated.

A light-emitting device includes a light-emitting element having first to fourth outer edges and including: an inner light-emitting portion including an inner semiconductor structure and inner electrodes; and an outer light-emitting portion surrounding an entire periphery of the inner light-emitting portion in the plan view and including an outer semiconductor structure, a first outer electrode including first to fourth extending portion respectively extending along the first outer edge, one of the third and fourth outer edges, the second outer edge, and the other of the third and fourth outer edges. An outermost surface of the light-emitting element includes surfaces of the inner and outer semiconductor structures. In the plan view, a first gap is between end portions of the first and fourth extending portions, and a second gap is between end portions of the second and third extending portions.