48mm-46mm Step-Down Metal Adapter Ring (Lens (48mm) to Filter (46mm)) New Japan
Lens to Fit = 48 mm ( Male Threads = 48 mm )
Filter to Fit = 46 mm ( Female Threads = 46 mm )
This Stepping Ring enables a filter with an attachment ( 46mm Filter / Tube Adapter / Lens Hood / Lens Cap ) size of 46mm to be used with a lens of 48mm.
The first number is always the lens thread size, the second number is the filter size of the accessory. If the first number is bigger, it's a step-down ring. If the first number is smaller, it's a step-up.
Still confused email us to clear it up further and also look at second picture that will help you understand.
We do combine S&H charges.