If your wheel is the same as the K's and F1 the alloy retaining ring has been caulked, a punch has been used on the circumference of the ring to stop it coming loose. These should be drilled out otherwise you will ruin the thread, what I did next was to get some flatbar, drilled two holes in the same distance apart as the slots in the ring. I then put two bolts through the holes tightened up two nuts on the other side, files flats into the bolt ends to fit the slots in the retainer ring. Hey presto a genuine Hondaish tool !
Looking at your photo you will have to first remove the wheel spindle, looking at the F2 manual it should just push out.
Cheers
Den