The ring gear might be fine, they are designed to have a bevel so the starter gear meshes easily. The actator mechanism is probably worne out (dos not throw the sarter gear in far enough). This is the same as the problem I had on my old CB250 RSD from the days of old. Lots of people blamed the ring gear or starter teeth but missed the obvious. I 'cured' my CB by replaceing the actuator bits.
Take out the old actuator assembly and you'll be able to see if it's toast. You might be able to fabricate a new one or get another one made.
Just a thought, a stuffed Honda XL500 engine might help to convert the bottom end to a kick start. You'd probably need the whole crankcase full of stuff though to get not only the kick but the take up gear... just a thought. Maybe some XBR500 bits might help the starter also although I'm unsure how much was shared with the FT/XL.
A shame really as the FT was a real hoot when pointed at hills.
Good luck!
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