A cold near-infrared stellar coronagraph combined with adaptive optics (CIAO) is introduced. As an open-use instrument on the Subaru 8.2-m telescope, it has been used for several star formation studies with high spatial resolutions (from natural seeing of about 0.6 arcsec down to 0.07 arcsec with adaptive optics). A brief explanation is described of the instrument as well as its current main project of systematic surveys of disks and young companions around T Tauri stars and Herbig Ae/Be stars. In particular, observations of HL Tau are presented in some details. Our images of HL Tau show several new circumstellar features including the presence of a red H - K color region of ∼150 AU, probably corresponding to the small circumstellar disk. The observations of a high density stellar cluster of MWC 137 are also reported. It appears to be a cluster of very low-mass stars around Herbig Be star or a cluster of B stars around a super giant.